Which of the following statements is true of limited partners?
A) They cannot act as an agent of the partnership.
B) They can control operations of the limited partnership.
C) They cannot vote on the change of the partnership's name.
D) They can have their surnames used in the partnership's name.
E) They can act as a guarantor of the partnership's obligations.

Question

Quizplus · Accepted Answer

Limited partners can act as a guarantor of the partnership's obligations. They can also vote on matters of fundamental importance such as dissolution, sale of assets, or change of the partnership's name.

Which of the Following Statements Is True of Limited Partners